By Deborah Fleck | Fort Worth Business Press
An Irving office campus currently occupied by Allstate Insurance Co. is among three properties acquired this week by Cole Corporate Income Trust Inc.
The Irving campus comprises three interconnected three-story office buildings, one five-story office building and one single-story flex industrial building. Through a sale-leaseback transaction, Allstate will occupy the campus under a 12-year lease, plus renewal options.
In addition to the 458,338-square-foot Irving campus, Phoenix-based Cole also acquired The Men’s Warehouse corporate campus in Houston and the Harvard Vanguard Medical Associates office building in Boston.
With the new transactions, Cole’s real-estate portfolio comprises 35 wholly owned properties in 17 states, totaling about 5.6 million square feet and with an aggregate purchase price totaling about $921.1 million.
Cole Real Estate Investments Inc. is a real-estate investment trust, acquires and manages real estate assets leased long-term.
